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Corporate governance theorising: limits, critics and alternatives

Corporate governance theorising: limits, critics and alternatives Purpose – This paper seeks to examine the mainstream theories of corporate governance in an attempt to suggest that their underlying assumptions and ideologies are misplaced and ought to give way to an emerging pluralistic view of the governing process in order to understand any governance contribution to the dynamics of the business environment. Design/methodology/approach – The paper engages with the traditional literature and views on governance models from law, business and organisational studies perspectives. It then considers the environment and changes in the environment and how those challenge the relevance of the traditional approach, drawing upon the impacts on the fluidity of management and governance perspectives and practices in the global economy. Findings – The reflections and analysis confirm the view that the underlying assumptions of existing models and regulatory frameworks for governance are misplaced and it is suggested, with reason, that a pluralistic view and framework are better than the current dualistic approach to provide a better understanding of corporate governance in today's dynamic business environments. Originality/value – The paper develops a new model and framework for governance practice and regulation and seeks to persuade policy makers and commentators that the global business environment needs to recognise and engage with this new model and validate its assumptions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Law and Management Emerald Publishing

Corporate governance theorising: limits, critics and alternatives

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References (96)

Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
1754-243X
DOI
10.1108/03090550810852086
Publisher site
See Article on Publisher Site

Abstract

Purpose – This paper seeks to examine the mainstream theories of corporate governance in an attempt to suggest that their underlying assumptions and ideologies are misplaced and ought to give way to an emerging pluralistic view of the governing process in order to understand any governance contribution to the dynamics of the business environment. Design/methodology/approach – The paper engages with the traditional literature and views on governance models from law, business and organisational studies perspectives. It then considers the environment and changes in the environment and how those challenge the relevance of the traditional approach, drawing upon the impacts on the fluidity of management and governance perspectives and practices in the global economy. Findings – The reflections and analysis confirm the view that the underlying assumptions of existing models and regulatory frameworks for governance are misplaced and it is suggested, with reason, that a pluralistic view and framework are better than the current dualistic approach to provide a better understanding of corporate governance in today's dynamic business environments. Originality/value – The paper develops a new model and framework for governance practice and regulation and seeks to persuade policy makers and commentators that the global business environment needs to recognise and engage with this new model and validate its assumptions.

Journal

International Journal of Law and Management – Emerald Publishing

Published: Feb 1, 2008

Keywords: Corporate governance; Business environment

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